Risk Assessment Based on Sustainability Aspects

In the sustainability statement, material risks associated with the Group’s own business activities – and business relations or products and services of the Group – which are very likely to occur and which could have serious negative impacts on non-financial topics must be reported. On the basis of the risk analyses performed and in the opinion of Vonovia’s management, there are no non-financial risks subject to a reporting requirement that meet the materiality criteria pursuant to Section 289c (3) Nos. 3 and 4 HGB following application of the net method and taking risk mitigation measures into consideration.

The definition of material reportable risks provided in Section 289c (3) Nos. 3 and 4 HGB differs from that used in the ESRS. Consequently, this sustainability statement reports on risks that are material and, as a result, reportable in accordance with the ESRS. Since, however, these risks are not classified as threatening to Vonovia, no reporting requirement applies pursuant to Section 289c (3) Nos. 3 and 4 HGB.